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What do all these statements have in common and for that matter what do all financial accounting standards have in common. They all make the presumption that the information contained therein is accurate, transparent, faithfully representational and directly comparable against other entities. But why is that important? Financial statements provide the information necessary for all stakeholders and potential investors to make crucial financial decisions, do I invest or do I sell.
By Peter Welch, Georgia, CEO GlobalCfo.LLC